Alston & Bird Consumer Finance ABstract

Consumer Finance State Roundup

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The pace of legislative activity during this current year can make it hard to stay abreast of new laws.  The Consumer Finance State Roundup is intended to provide a brief overview of recently enacted legislation of potential interest. Between the end of July and the first week of August, two states enacted legislation of potential interest to Consumer Finance ABstract readers: District of Columbia:  Effective as an emergency measure from July 31 to October 29, 2023, B 25-357 (Act … [Continue reading] about Consumer Finance State Roundup

Oh Snap! CFPB Sues Fintech Company under CFPA and TILA

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CFBP on google search result

A&B Abstract: On July 19, 2023, the Consumer Financial Protection Bureau (CFPB) sued a Utah-based fintech company and several of its affiliates (the Company) for allegedly deceiving consumers and obscuring the terms of its financing agreements … [Continue reading] about Oh Snap! CFPB Sues Fintech Company under CFPA and TILA

NY DFS Releases Revised Proposed Second Amendment of its Cybersecurity Regulation

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The New York Department of Financial Services (“NY DFS”) published an updated proposed Second Amendment to its Cybersecurity Regulation (23 NYCRR Part 500) in the New York State Register on June 28, 2023, updating its previous proposed Second … [Continue reading] about NY DFS Releases Revised Proposed Second Amendment of its Cybersecurity Regulation

Georgia, Florida, Connecticut Enact Commercial Financial Disclosure Laws

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A&B Abstract: Georgia, Florida, and Connecticut are among a growing list of states, including California, New York, Utah, and Virginia, that have enacted laws requiring consumer-style disclosures for commercial financing transactions. These … [Continue reading] about Georgia, Florida, Connecticut Enact Commercial Financial Disclosure Laws